2023-08-10 07:00:00
A significant price increase was observed on the domestic real estate market in the first half of last year, but in the second half of the year, and at the beginning of this year, the increase in real estate prices stopped in the university towns, MBH Bank wrote in its press release. This could be good news for those who are thinking about buying – for example, because they can start their child in their own apartment, not in a sublet, at the beginning of their adult life. However, looking at the prices, it is clear that creating your own home is still not a realistic option for someone living on an average salary.
If ever, the real estate market in Szeged is certainly spinning now, as many university students are looking for an apartment. Last week, we looked at how much the sublets cost, now we have examined the conditions under which it is worth buying. Browsing the ingatlanbazar.hu website, it can be seen that the cheapest flats in Szeged, that is, the price of panels per square meter, starts at roughly HUF 570,000. This means that a 2-room, 50 square meter apartment in average condition can be purchased for around HUF 30 million. In the case of a brick apartment of the same size, it costs approximately HUF 10 million more. The price of newly built apartments, on the other hand, beats the level in the capital: HUF 1 million per square meter is no longer enough for this type of apartment. All of this means that anyone who wants a “zero-kilometer” downtown apartment will have to pay nearly HUF 32 million for 30 square meters, that is, for a studio apartment. It is also interesting that new homes are not cheaper in Újszeged or Móraváros either. Just so that we have a basis for comparison: at this price we can also get apartments in the capital’s elite neighborhoods, in District I, District V, Belső-Terézváros, the Corvin district, the rehabilitation areas of Ferencváros, Kiszugló, and Kelenföld. True, only used.
So it can be seen that no matter what type of apartment you choose, even with the smallest needs, you need a purchasing power of at least HUF 30 million. According to loan calculators available on the Internet, if someone wants to take out a loan of such a large amount, they have to count on monthly installments of HUF 256,000 over 20 years. However, this will only be approved by the bank if the net income is over HUF 500,000. Presumably, quite a few career starters or university students have this kind of income, so it takes a lot of self-effort to buy a home. With a third of the HUF 30 million in our example, the loan installment would decrease to HUF 170,000 in the pocket, which is approved by the banks upon proof of a net income of approximately HUF 350,000. Even in this case, however, for 20 years, the buyer would have to pay a higher amount every month than if he were to rent an apartment of the same size, and in addition, he would pay HUF 40,000,000 instead of 30,000,000. The only question is: how many young people starting their careers have HUF 10 million in their pockets, and how many of them have no problem giving up almost half of their net average salary every month.
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